Commerce minister Tofail Ahmed on Sunday sought duty- free market access of all Bangladeshi export products, including readymade garments, to Russia to increase trade volume between the two countries.
Russia has given duty-free, quota-free market access of 71 Bangladeshi products but the country’s main export product RMG is not included in the list.
‘I have requested Russia to give duty-free, quota-free market access of all Bangladeshi export products, including RMG, as per the decision of the ministerial conference of World Trade Organisation,’ Tofail told reporters after a meeting with Russia’s deputy agriculture minister Levin Sergey Lvovich at Bangladesh Secretariat.
Tofail said that Bangladesh had signed a memorandum of understanding to be a member of Eurasian Economic Commission and hopefully Bangladesh would obtain the membership and Russia would provide duty-free market access like European Union.
The commerce minister said that Bangladesh exported potato to Russia and considering the demand of Russia, it could be the potential market for Bangladeshi potato.
‘We discussed a lot of things including political, economic and bilateral trade relations between the two countries,’ Lvovich told reporters.
Replying to a question, the Russian minister said that the two countries were working closely to increase the balance of trade.
‘I do believe that the problems related to opening letter of credit for export and import business would be resolved shortly,’ Lvovich said.
The Russian deputy minister sought support from Bangladesh to be the host country of World Expo 2025.
Commerce minister Tofail Ahmed said that Russia’s request regarding World Expo 2025 would be in consideration as the country is a good friend of Bangladesh since the liberation was in 1971.
He said that a total of four countries — Russia, France, Azerbaijan and Japan — are trying to be the host of World Expo 2025.
The event takes place in every five years and the next version would be held at Dubai in 2020, the commerce minister added.
Want stories like this in your inbox?
Sign up to exclusive daily email
More Stories from Apparel